The Rising Influence of Rising Affluence

[DewDiligence]

CLF is down about 5% today—there is speculation it will acquire Anglo American’s stake in the Amapá iron-ore mine, where CLF is currently a minority holder in a JV:

http://www.reuters.com/article/2011/12/19/angloamerican-brazil-idUSL6E7NJ2SU20111219

This would not be an unduly large transaction even for a company as modest in size as CLF, so the reaction by investors is somewhat puzzling.